E251 | Unleashing the Power of Innovation Tournaments with Dr Christian Terwiesch
Scale To Win with Dominic Monkhouse · Monkhouse & Company
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Show Notes
How can we generate thousands of ideas in your organisation? Feel overwhelmed just by thinking about it? Our guest on the podcast this week thinks that, if you can’t come up with thousand ideas, you’re unlikely to come up with a winner. That’s why he suggests creating an innovation tournament.
This week on The Melting Pot, we learned from Dr Christian Terwiesch, professor at the Wharton School, University of Pennsylvania, and Chair of Wharton's Operations Information and Decisions Department. Christian has written numerous business books but, in this episode, we wanted to learn more about his latest work, The Innovation Tournament Handbook. This book is a more practical approach to the theory he laid out in his first book, Innovation Tournaments.
In this episode, Christian explains how to run an innovation process in your business and how to build an innovation tournament so that you’re running one every six months. That means lots of people get involved with loads of ideas emerging, all in a relatively low-cost way. He also talks about the importance of destigmatising failure in innovation and why we need to embrace it as part of the process of innovation.
Download and listen to learn more.
On today’s podcast:
- What is innovation, really
- The Innovation Tournament
- Removing the stigma of failure in the innovation process
- Getting the whole team involved in the innovation process
- The innovation dilemma
Follow Christian Terwiesch:
The Innovation Tournament Handbook
Book recommendations:
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